Well this is an interesting one. Now before I delve into why. I must stress this is purely our opinion with its potential and you must seek you own independent advice.
Here we see on zoopla a one bed house on with Hunters Estate Agent for £269,950
http://www.zoopla.co.uk/for-sale/details/42811731
So why do we think this is interesting?
Well firstly, you have a one bedroom house on a FREEHOLD basis on for similar price of a 2 Bedroom Flat on leasehold in the same area.
Secondly you have your own private garden and Drive way which is a massive plus.
Now what interesting is looking at the floor-plan.
The upstairs seems very good and spacious and have space to potential do a loft conversion STPP (Subject to Planning Permission)
Now IF planning for that loft conversion / 2nd bedroom is granted. you have added value already to this property.
Average 2 bedroom House FREEHOLD sells in the region of £350,000 to £380,000 in todays market.
a potential £55,000 to £85,000 gross profit on a flip. which will give you an 18% to 28% return on investment.
Now I haven’t seen this property inside – so if this is something of interest, call the agent and book an appt to view BUT seek professional advice from the planning authorities.
Need a second opinion on a purchase for buy to let or wish to discuss the local market in more detail. Feel free to get in touch with us…
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